Lightfoot Inc., a software development firm, has stock outstanding as follows: 49,000 shares of cumulativepreferred 1% stock, $105 par and 95,000 shares of $145 par common. During its first four years of operations,the following amounts were distributed as dividends: first year, $34,000; second year, $60,000; third year,$71,000; fourth year, $114,000. This information has been collected in the Microsoft Excel Online file. Openthe spreadsheet, perform the required analysis, and input your answers in the questions below.Determine the dividends per share on each class of stock for each of the four years. Round your answers tothe nearest cent. If no dividends are paid in a given year, enter "0".Line Item Description1st Year2nd YearPreferred stock (dividends pershare)Common stock (dividends pershare)$fill in theblank$fill in theblank$fill in theblank$fill in theblank3rd Year$fill in theblank$fill in theblank4th Year$fill in theblank$fill in theblank

Lets understand the basics.Dividend means the amount given to shareholder of the company as profit…

Answered: Lightfoot Inc., a software development…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Senior Life Co. is an HMO for businesses in the Portland area. The following account balances appear on the balance sheet of Senior Life Co.: Common stock (360,000 shares authorized; 4,000 shares issued), $50 par, $200,000; Paid-In Capital in excess of par— common stock, $40,000; and Retained earnings, $1,600,000. The board of directors declared a 1% stock dividend when the market price of the stock was $63 a share. Senior Life Co. reported no income or loss for the current year. If an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required" from the dropdown. a1. Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value. a2. Journalize the entry to record the issuance of the stock certificates. b. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders'…
Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulative preferred 2% stock, $25 par, and 19,000 shares of $100 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,850; second year, $4,800; third year, $30, 240; fourth year, $59,750. Calculate the dividend per share on each class of stock for each of the four years. Round all answers to two decimal places.
Lightfoot Inc., a software development firm, has stock outstanding as follows: 25,000 shares of cumulative preferred 3% stock, $20 par, and 31,000 shares of $100 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $5,750; second year, $9,500; third year, $57,340; fourth year, $108,930. Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0". 1st Year 2nd Year 3rd Year 4th Year Preferred stock (dividend per share) $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 Common stock (dividend per share) $fill in the blank 5 $fill in the blank 6 $fill in the blank 7 $fill in the blank 8
Lightfoot Inc., a software development firm, has stock outstanding as follows: 15,000 shares of cumulative preferred 2% stock, $25 par, and 19,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $2,850; second year, $4,800; third year, $28,910; fourth year, $55,380. Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0".
Kelley Company reports $1,875,000 of net income and declares $262,500 of cash dividends on its preferred stock for the year. At year-end, the company had 390,000 weighted-average shares of common stock. 1. What is the company's basic earnings per share (EPS)? 2. In the prior year, Kelley had a basic earnings per share (EPS) of $3.93. Did Kelly improve its earnings per share (EPS) in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the company's basic earnings per share (EPS)? Basic earnings per share Choose Numerator: I Choose Denominator: Net income available to common stockholders Weighted-average outstanding shares = Basic earnings per share
The stockholders' equity of Blue Corporation includes $300,000 of S1 par common stock and $500,000 par of 5% cumulative preferred stock. In its first year of operations, cash dividends of $20,000 were declared. In its second year of operations, cash dividends of $15,000 were declared. Now in its third year, cash dividends of $100,000 are declared. How much of the $100,000 year three dividends will preferred stockholders receive? Multiple Choice $25,000 $15,000 $40,000 $35,000
Lightfoot Inc., a software development firm, has stock outstanding as follows: 30,000 shares of cumulative preferred 2% stock, $25 par, and 38,000 shares of $50 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $5,700; second year, $9,600; third year, $57,820; fourth year, $110,760. Calculate the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places. If no dividends are paid in a given year, enter "0" 1st Year 2nd Year Preferred stock (dividend per share) Common stock (dividend per share) 0.19 ✓ $ 0.36 X 100 3rd Year 100 4th Year
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You are considering an investment in Roxie's Bed & Breakfast Corporation During the last year, the firm's income statement listed an addition to retained earnings of $16.20 million and common stock dividends of $1.30 million. Roxie's year-end balance sheet shows common stockholders' equity of $55.9 million with 19 million shares of common stock outstanding. The common stock's market price per share was $8.10.
Agri Gold Ltd. began operations on January 1, 1983 by issuing 54,000 common shares at $13 per share and 26,000 $8 cumulative preferred shares at $20 per share. During 1983 Agri Gold Ltd issued an additional 8,000 common shares at $11 per share and 2,000 preferred shares at $30 per share. 2019 profit was $355,000 and the Board declared $81,000 in dividends. Required: Prepare the Shareholders' Equity section of Agri Gold Ltds Balance Sheet at December 31, 1983.

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